GO
| HSI1 | 24,909.33 | -426.62 | 146.48B |
| HSCEI1 | 8,418.65 | -164.09 | 64.24B |
| Back Zoom + Zoom - Block Traded | |
|
2026-03-26 10:10:22 The market is concerned that POP MART (09992.HK) is overly reliant on Labubu IP for its revenue, compounded by Labubu's revenue falling short of expectations. Following a sharp 22.5% drop in heavy trading yesterday (25th), the stock opened 1.4% lower this morning (26th) at HKD165.9. The initial decline expanded sharply, dropping 10.8% to a low of HKD150.2, marking the lowest point since mid-April last year, over 11 months ago. It is currently trading at HKD151.1, down 10.22%, with a trading volume of 41.4241 million shares, involving HKD6.463 billion. The group announced its last year's results at noon yesterday, with revenue of RMB37.12 billion, up 184.7% YoY, aligning with the consensus forecast of 15 brokers ranging from RMB32.828 billion to RMB40.235 billion, with a median of RMB38.02 billion. The net profit was RMB12.776 billion, up 308.8% YoY, matching the consensus forecast of RMB10.81 billion to RMB14.092 billion, with a median of RMB13.023 billion. EPS was RMB9.61. A final dividend of RMB2.3817 was declared, compared to RMB0.8146 in the same period last year. The group stated that by 2025, 17 artist IPs will have revenue exceeding RMB1 billion, with THE MONSTERS, SKULLPANDA, CRYBABY, MOLLY, DIMOO, STAR PEOPLE, and HIRONO achieving revenues of RMB14.161 billion, RMB3.54 billion, RMB2.929 billion, RMB2.897 billion, RMB2.777 billion, RMB2.056 billion, and RMB1.735 billion, respectively, during the reporting period. According to a report by HSBC Global Research early last month, POP MART's revenue last year was estimated at RMB38.588 billion, with THE MONSTERS (Labubu) estimated to have generated RMB18.022 billion, and other IPs estimated to have generated RMB20.566 billion. POP MART Chairman and CEO Wang Ning stated at the earnings conference that the past year has seen rapid development, admitting to feeling immense pressure. He noted, "This year will be a year of pit stops and refueling for the group," aiming for sustainable and healthy growth with a target of no less than 20% growth rate. He added that next month, they will collaborate with platforms like JD-SW (09618.HK) to launch derivative small appliances centered around IP. Regarding last year's Labubu series popularity, Wang Ning described its value as akin to a 'gold mine,' believing that the value extraction has just begun. He also stated, "Pop Mart's business is not just about Labubu," asserting that even without the growth driven by Labubu, the group's performance remains impressive. (da/j)~ AASTOCKS Financial News Website: www.aastocks.com | |